Markets will continue to go up far longer than fundamentals. In the Dot Com era, Greenspan warned of irrational exuberance in 1996 and Howard Marks gave a warning in 1997. Markets gave spectacular returns till Mar2000 and then no returns for nearly 10 years. Don’t exit,prepare
2007 saw around 100 IPOs . Only 11 have beaten the CNX 500 Index returns in this period.
31 dont trade any more.
This is a tale of caution for 2021 as IPO frenzy grips the markets with record retail participation .
Often, we lay more importance on who is giving the advice instead of the advice itself.
An overweight friend asking us to eat healthy.
A friend with no savings nudging us to invest.
"But they aren’t living that life"
Perhaps that is the exact reason they’re giving the advice.
TODAY
Elon Musk announced that he is going to be off Twitter for a while.
Jeff Bezos announced that he is transitioning from the CEO role.
Coincidence? I think not.